"We've added to our Apple position. Now we just wait for the release of Apple's next blockbuster product," Einhorn said.

That seems to settle, at least for now, a feud that erupted earlier this year after Apple's stock plummeted for several months. Einhorn had been pressing Apple to return more of its cash to shareholders, and became upset about a proposal on the company's annual proxy that he believed might make that more difficult.

The proposal would have required a shareholder vote if the company wanted to issue a special class of stock that Einhorn wanted. Einhorn sued to have the proposal blocked, and a judge sided with him. Though Apple Chief Executive Tim Cook had dubbed Einhorn's lawsuit a "silly sideshow," the company had to drop the proposal.

On Tuesday, Apple's stock was down $1.81 in midday trading to $458.90. However, it's still up from its recent low of $390.53 a share last month, before the company announced the expanded buyback plan.